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Only six operators seem likely to apply for Thai casino license

Ben Blaschke by Ben Blaschke
Mon 24 Mar 2025 at 06:37
Deputy PM says Thai cabinet unlikely to approve new casino entry barrier for locals
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Thailand’s push to establish a legal casino industry within large-scale entertainment complexes may not generate the level of interest expected with research conducted by Inside Asian Gaming seeming to suggest that only six internationally-recognized operators can be considered likely to bid.

The comprehensive deep dive into the current state of play in Thailand, and specifically how operators feel about the finer details of legislation currently being reviewed and considered by the government, features on the cover of IAG’s April magazine issue, to be published on Monday 31 March.

Although IAG identified and contacted 15 operators who have either publicly stated their interest or could be in a realistic position to make a Thailand bid, their responses indicated that only half a dozen can be considered likely to do so. They comprise three Macau operators, two US operators and one other Asian-based operator.

A handful of those contacted immediately ruled themselves out of contention while many made it clear that although they were keeping an eye on the Thai opportunity, their primary focus was on their existing operations.

Although the actual number of bidders could end up higher than six, it could also be lower depending on the strength of the final piece of legislation to be signed off by the king. How it stands up to Nevada’s foreign gaming provisions could go a long way to determining the success or otherwise of Thailand’s casino dream.

IAG also expects the recent experience in Japan to come into play, with some of the more than 20 operators to have been caught up in the Japan buzz in 2018 and 2019 fearful of being burned a second time.

“Although the potential of Thailand to become one of the world’s largest gaming markets is undisputed, many of those seen as potential suitors have been recently burned by the ‘next hottest thing in global gaming’ – Japan springs to mind – and remain wary of committing to the opportunity until more details come to light,” IAG writes in its deep dive analysis.

“Japan, which was at one stage courted by over 20 global operators but ended up with just one, highlighted how governments that do not have experience with international standard multi-billion-dollar integrated resorts can become seduced by the opportunity, and ultimately self-destruct that opportunity by pricing themselves out of the market.”

The full breakdown of Thailand’s likely and possible operator candidates is outlined in IAG’s deep dive cover story, to be published on Monday 31 March 2025.

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Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

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